Sample questions relating to Weymouth leasehold conveyancing
I am in need of some leasehold conveyancing in Weymouth. Before I get started I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Weymouth - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Jane (my partner) and I may need to let out our Weymouth garden flat temporarily due to a new job. We instructed a Weymouth conveyancing firm in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
Your lease governs relations between the landlord and you the flat owner; specifically, it will say if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Weymouth do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
Due to complete next month on a ground floor flat in Weymouth. Conveyancing solicitors assured me that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Weymouth should include some of the following:
- The total extent of the property. This will be the flat itself but could also incorporate a loft or basement if appropriate.
I have just started marketing my ground floor apartment in Weymouth.Conveyancing is yet to be initiated but I have just had a half-yearly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
If all goes to plan we aim to complete the sale of our £175000 apartment in Weymouth next week. The management company has quoted £420 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Weymouth?
Weymouth conveyancing on leasehold flats normally involves the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be content to assist. They are entitled invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, without which the charge is technically not due. In reality one has no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I acquired a split level flat in Weymouth, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Weymouth with a long lease are worth £196,000. The average or mid-range amount of ground rent is £65 yearly. The lease ceases on 21st October 2084
With 64 years left to run we estimate the premium for your lease extension to span between £14,300 and £16,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.